Over the past 28 years, Insight Research Corporation has completed performance overview analyses every 2 to 3 years in order to track the economic impact of Allen Economic Development Corporation (AEDC) projects. The AEDC was formed in 1992 and capital investment and employment impacts from AEDC projects were tracked beginning in 1993. Per Insight Research Corporation, the AEDC has measured its impacts longer and more consistently than any other economic development organization in the state.
The mission of the AEDC is to recruit and retain quality businesses that increase the ad valorem tax base and bring quality jobs to the City of Allen. This additional commercial tax base allows the Allen City Council to reduce the property tax burden on citizens, while also bringing jobs that benefit Allen residents and create a vibrant economy that is sustainable for the long-term.
Insight Research will present the AEDC impacts through the end of calendar year 2020. This will include the employment impact, property tax base growth, local taxes generated, and other economic impacts produced by almost 130 projects the AEDC has recruited to the City of Allen.